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Russia is still pumping and exporting vast amounts of oil and natural gas to the rest of the world in the face of Western sanctions. At the heart of it lie London-listed energy giants Gazprom and Rosneft.

[Egypt Online] The project to convert 2,262 Public Transport Authority buses to run on natural gas instead of diesel fuel is meant to preserve the environment and reduce air pollution, affirmed Local Development Minister Mahmoud Shaarawy.

Nigeria has remained far from reaping the benefits of the high oil prices in the international market, as its production falls below the quota set by the Organization of Petroleum Exporting Countries (OPEC). Oil prices had reached above $105 a barrel as at last Thursday, being the first time since 2014. Commenting on the oil price increase recently, the minister of state for petroleum, Timipre Sylva, regrets that Nigeria is not able to take advantage of the high prices due to production shortfalls. According to Sylva, being a net importer of refined petroleum products places Nigeria at a difficult position to enjoy the benefits of the oil price. He said, “Rise in crude oil prices is not something to celebrate. In Nigeria, right now we are a net importer of petroleum products and when the price of crude oil goes up it affects the prices of petroleum products. “So, for us who are the net importers, it is not very good. What we are saying is that if you are going to produce more and you get more dollars from your production, then it gives you more money for your imports. “But if you are now producing less and then you still have to make sure that the Nigerian market is supplied fully with petroleum products, then you will see that there will be a shortfall. “We are not happy at all that we are not able to take advantage of the high prices of oil that we have seen today.

Crude oil may have come to a boil from the Russia-Ukraine war, the price has increased and its direct impact has been on petrol, diesel, natural gas, said Varun Dubey.

Share market LIVE updates: An escalating conflict and more severe Western sanctions are roiling markets. Hostilities threaten to stoke inflation by jeopardising supply of key commodities such as wheat, natural gas, oil and metals, exacerbating pandemic-era price pressures

U.S. natural gas futures advanced on the prospect of higher overseas demand after Western nations imposed tighter sanctions to isolate Russia, one of the world’s top energy suppliers.

If you really want to deter Russia from its aggression against Ukraine, you hit where it will hurt the most – its oil and natural gas exports

Since Russia’s invasion of Ukraine, the world’s largest economies have not shied away from expressing their disapproval by imposing sanctions on them. One of the sanctions is that Russian banks are removed from the Society for Worldwide Interbank Financial Telecommunications (SWIFT). Following lengthy deliberations, the United States, the European Union, and the United Kingdom finally agreed on Saturday to cut some Russian banks from the SWIFT messaging system. SWIFT is a Belgian messaging service that connects over 11,000 financial institutions around the world when they transfer money. It does not really keep or transmit funds, but it does enable banks and other financial institutions to alert one another of pending transactions. It notifies users when payments are sent and received. Implications of unplugging Russia from SWIFT Blocking Russian banks from using SWIFT would limit the country’s capacity to undertake foreign financial transactions, forcing importers, exporters, and banks to find alternative means to communicate payment instructions. “Cutting some commercial banks from SWIFT will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally,” EU Commission President Ursula von der Leyen said in announcing the measures in Brussels.

Saudi Aramco has discovered natural gas fields in four regions of the kingdom, Energy Minister Prince Abdulaziz bin Salman said in a statement Sunday.

We have been told that intermittent electricity from wind and solar, perhaps along with hydroelectric generation (hydro), can be the basis of a green economy. Things are increasingly not working out as planned, however. Natural gas or coal used for balancing the intermittent output of renewables is increasingly high-priced or not available. It is becoming clear that modelers who encouraged the view that a smooth transition to wind, solar, and hydro is possible have missed some important points. Let’s look at some of the issues: [1] It is…

Russian soldiers and armoured vehicles seen in Kharkiv, while natural gas pipeline burns

There is a glaring carve-out in President Joe Biden''s sanctions against Russia: Oil and natural gas from that country will continue to flow freely to the rest of the world and…

Saudi Aramco has discovered natural gas fields in four regions of the kingdom, the Saudi Press Agency reported on Sunday, citing Energy Minister Prince Abdulaziz bin Salman. The fields were found in the central area of the kingdom, in the Empty Quarter desert, near its northern border and in the eastern region, he said, according to the state news agency. Saudi Arabia wants to increase gas production and boost the share of natural gas in its energy mix, replacing crude and fuel oil, to meet growing electricity consumption and to make more crude available for export. Saudi Aramco in talks on more investments in China The minister said an unspecified number of fields were discovered and he mentioned five by name, without indicating in the SPA report if these were all the reservoirs that has been found. The fields he mentioned are Shadoon, in the central region, Shehab and Shurfa, in the Empty Quarter, in the southeastern region, Umm Khansar, near the northern border with Iraq, and Samna, in the eastern region.

US and European officials made clear they still were working on implementation of the sanctions, and said they would take care not to impact European purchases of Russian natural gas.

With the latest events unfolding in Ukraine, the topic of natural gas dependence and its implications has once again taken center stage. Natural gas is the least polluting fossil fuel, which has made it a preferred “bridge” to net zero. The dependence element, however, has cast a shadow over the future of gas, and alternatives are being actively—if not desperately—sought. One of the most talked-about among these alternatives is hydrogen—an energy carrier rather than a fuel—but an element so versatile it can be…